Perodua may increase its car prices if the ringgit continues to weaken against major currencies.

This is because its manufacturing parts business transactions are done in two currencies, the US dollar and the Japanese yen.

“If the ringgit continues to weaken against the US dollar, there is a possibility that we may review our car prices next year.

“Being an affordable-vehicle manufacturer, reviewing prices of our cars will be a tough call, as it involves engagements with our various stakeholders, government, our shareholders and vendors," Perodua president and chief executive officer Aminar Rashid Salleh was quoted as saying by the New Straits Times.

Aminar said Perodua's sales had slumped 4.8 percent this year, due to the continued weakening of the ringgit against the greenback, and with the current economic slowdown.

Overall he said 2016 had been the toughest year for the carmaker since the 1997 Asian financial crisis, with total industry volume (TIV) down by 15 percent, he said.

He expected 2017 to be just as tough.